Financial Performance - The group's revenue increased from approximately RMB 12,202,000 to approximately RMB 16,788,000, representing a year-on-year increase of about 37.58%[6] - The net loss for the period was approximately RMB 5,056,000[6] - The gross loss margin for the period was approximately RMB 153,000, with total sales costs amounting to RMB 16,941,000[9] - The loss before tax was RMB 5,056,000, with a basic and diluted loss per share of RMB 0.48[9] - For the three months ended March 31, 2021, the company's revenue from manufacturing and selling woven fabrics was RMB 16,274,000, an increase of 38.5% compared to RMB 11,785,000 in the same period of 2020[32] - The total customer contract revenue for the same period was RMB 16,788,000, up from RMB 12,202,000 in 2020, reflecting a growth of 37.1%[32] - The company reported a net loss of RMB 5,056,000 for the three months ended March 31, 2021, an improvement from a loss of RMB 6,108,000 in the same period of 2020[44] - Basic and diluted loss per share for the period was RMB 0.0047, compared to RMB 0.0057 in the previous year, indicating a reduction in loss per share[44] - The net loss for the period was approximately RMB 5,056,000, a reduction of about RMB 1,052,000 or 17.22% compared to the same period in 2020[52] Expenses and Costs - Administrative expenses for the period were approximately RMB 2,933,000[9] - The company incurred depreciation expenses of RMB 2,309,000 for property, plant, and equipment, which increased from RMB 1,579,000 in the same period of 2020[39] - Interest expenses on interest-free loans from the parent company were RMB 476,000, significantly lower than RMB 1,752,000 in the previous year[37] - Administrative expenses increased by approximately RMB 163,000 or 5.88% due to higher employee salaries[50] - Financing costs decreased significantly by approximately RMB 1,276,000 or 72.83%, attributed to the repayment of interest-free loans[52] Dividends and Shareholder Information - The board of directors does not recommend the payment of an interim dividend for the three months ended March 31, 2021[6] - The company did not recommend the payment of an interim dividend for the three months ended March 31, 2021[43] - As of March 31, 2021, the company had a total of 588,000,000 domestic shares, representing approximately 55.29% of the total issued share capital[59] - The major shareholder, Guizhou Yong'an, holds 100% of the domestic shares, which translates to a 55.29% equity interest in the company[59] - The company’s executive director and major shareholders have disclosed their respective equity interests, with no other undisclosed interests reported as of March 31, 2021[58] Business Operations and Strategy - The company primarily engages in the manufacturing and sales of woven fabrics, providing weaving subcontracting services, and asset management services[17] - The company continues to face challenges from ongoing COVID-19 outbreaks in certain overseas markets and the impact of RMB appreciation on exports[53] - The company is actively developing new sales channels and researching high-quality products to attract high-end customers[53] - The company anticipates a challenging business environment due to ongoing risks of new COVID-19 outbreaks, despite the rollout of vaccines and increasing global vaccination numbers[11] - In 2021, the company focused on small-scale water management projects, leveraging existing customer relationships and technology to enhance operational management solutions for government clients[11] - The company reported an improvement in performance in 2021 compared to the previous year, driven by innovation and the development of new products to meet customer demands[11] - The board expects a long road to market recovery and consumer confidence rebuilding, with demand for woven fabrics anticipated to be highly unstable due to escalating tensions between China and the U.S.[11] - The company plans to manage capital expenditures very prudently while ensuring that strategic investment needs in key areas are not compromised[11] - The company continues to prioritize financial strength by implementing measures to improve efficiency, reduce costs, and enhance liquidity in the face of a challenging business environment[11] - The company’s capital management strategy includes careful oversight of expenditures to maintain financial stability while pursuing growth opportunities[11] Audit and Compliance - The audit committee has been established in accordance with GEM Listing Rules and is responsible for reviewing the financial reporting procedures and internal control systems of the group[66] - The audit committee reviewed the unaudited first-quarter results for the period ending March 31, 2021, and confirmed compliance with applicable accounting standards and GEM Listing Rules[66] - No purchase, sale, or redemption of the company's listed securities occurred during the three-month period ending March 31, 2021[68] Government Support - Government subsidies received amounted to approximately RMB 92,000 in the first quarter of 2021, a decrease of 61.2% from RMB 237,000 in the same period of 2020[36]
浙江永安(08211) - 2021 Q1 - 季度财报